Bitcoin is still impressive as one of the best performers among assets with vast capitalization, and its value increases by almost 25% over the past month. What’s more, the price of Bitcoins managed to remain above the six -digit valuation threshold despite the leisurely market conditions over the past week.
After a few weeks of a forceful stubborn action, it seems that the flagship cryptocurrency has resolved in consolidation from USD 102,000 – USD 105,000. Despite the shouts on the market for recovering their highest level, the price of Bitcoins now seems to have a certain degree of indecision among investors.
The price of BTC can prepare for the sale
In the post of May 16 on the Social Media Platform X, an analytical company in the chain explained that the price of bitcoins is at a time, which may be crucial for his future trajectory. This chain assessment is based on a long -term impulse of capitalization, an indicator that measures the rate of growth of the completed capitalization of long -term owners.
For clarity, a positive value for long -term implemented capitalization impulse signals that long -term investors buy more BTC with a higher value. This trend usually indicates a stubborn period or beginning of the bull market when long -term owners are in accumulation mode.
On the other hand, when the long -term implemented cap impulse is negative, it means that long -term owners discharge their coins at prices lower than the cost base. This is usually apparent in slow cycles of bulls and early bear markets, where long -term investors distribute their assets.
In addition, the long -term Cap impulse indicator offers insight into the dynamics of supply and demand of Bitcoin, emphasizing the main support and resistance zones. As shown on the chart supplied by the alpractal, the bitcoin price is at a critical point marked with a horizontal line known as the level of indecision.
Source: @Alphractal on X
The intellectual market company noted that the breakthrough of the long -term implemented capital impulse indicator from this level may prove to be crucial for Bitcoin’s long -term health, signaling of continuous demand and potential recognition of prices.
However, the alpraction has attached a historical importance for this level, noting that the long-term implemented capital impulse indicator was rejected in the indecision zone just before the Covid-19 landfill in March 2020. If the historical precedent is something to go, investors may want to be careful about any rejection at this level that can cause a significant sale.
Bitcoin price at first glance
From this letter, the price of BTC is around USD 103,713, which reflects only 0.6% enhance in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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